Xponance Inc. Has $294,000 Holdings in Tidewater Inc. (NYSE:TDW)

Xponance Inc. raised its position in shares of Tidewater Inc. (NYSE:TDW) by 9.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,092 shares of the oil and gas company’s stock after purchasing an additional 279 shares during the quarter. Xponance Inc.’s holdings in Tidewater were worth $294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Tidewater by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock valued at $442,956,000 after purchasing an additional 985,398 shares during the period. Boston Partners grew its position in shares of Tidewater by 11.7% during the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock worth $214,055,000 after buying an additional 243,489 shares during the period. Hsbc Holdings PLC grew its position in shares of Tidewater by 11,317.3% during the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock worth $60,992,000 after buying an additional 639,765 shares during the period. Bank of New York Mellon Corp grew its position in shares of Tidewater by 72.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company’s stock worth $42,257,000 after buying an additional 185,972 shares during the period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in shares of Tidewater during the 1st quarter worth approximately $34,898,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

NYSE TDW opened at $73.34 on Wednesday. The company has a fifty day simple moving average of $83.79 and a 200 day simple moving average of $92.71. Tidewater Inc. has a 12-month low of $54.53 and a 12-month high of $111.42. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. The company has a market cap of $3.85 billion, a P/E ratio of 29.21 and a beta of 1.13.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The business had revenue of $339.20 million during the quarter, compared to the consensus estimate of $331.85 million. During the same quarter last year, the firm posted $0.46 EPS. Tidewater’s revenue was up 57.8% compared to the same quarter last year. Sell-side analysts predict that Tidewater Inc. will post 4.4 earnings per share for the current fiscal year.

Tidewater declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 6th that authorizes the company to buyback $13.90 million in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Raymond James raised their price objective on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tidewater has an average rating of “Moderate Buy” and an average target price of $111.25.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.